Curomax Limited announced today (June 29) an agreement with San Francisco-based Bank of the West to enhance the bank’s United States recreational vehicle and marine lending capabilities.
According to a press release, the Internet-based service becomes available to Bank of the West clients early in the third quarter of 2005, enabling dealers to submit consumer loan applications electronically while improving their ability to track the status of individual deals.
“Bank of the West has invested significantly in its dealer lending services and in particular its focus on recreation and marine dealer needs across the United States,” said John Wojcik, executive vice president of Bank of the West. “Curomax has done its research and has arrived in the U.S. RV and marine markets with a loan origination channel that we believe will fundamentally change how recreational vehicle and marine dealers interact with lenders in America.”
Curomax said the service facilitates the entire loan process, providing on-line, real-time credit approval along with the ability to update deal status and produce all necessary lender contract documentation.
“Curomax has set very high expectations for itself in delivering the premier loan origination solution for recreation and marine dealers in North America,” said Alan Bird, president and CEO of Curomax. “In order to deliver on that promise, we must provide a choice of the very best lenders in the marketplace.”
Bank of the West, with assets of $41 billion, is one of the largest RV and marine lenders in the United States.